NHL goes to its players looking for $300 million in savings

The NHL has asked its players to accept a pair of amendments to the six-year collective bargaining agreement the two sides signed in July to help the league return during the COVID-19 pandemic.

The players learned of the request in a Thursday meeting with NHLPA executives. The league would like to raise the escrow caps on the final three years of its deal with the players, and raise deferrals on 2020-21 player salaries from the agreed upon 10 per cent to 23 per cent.

Multiple industry sources said Wednesday evening that the players “want nothing to do with discussing escrow.” The players’ sentiment is that the league would not consider the same type of requests if they were made by the NHLPA.

But the players were told the league is seeking $300 million (U.S.) in savings after losing an estimated $600 million in the COVID-shortened 2019-20 season.

In the new CBA in July, escrow was capped at 20 per cent this season. With an agreed upon 10 per cent in deferrals, it means that the players would receive a little more than 60 per cent of their 2020-21 salaries, with the 10 per cent being paid back the next three Octobers.

The second season is capped at 14 to 18 per cent, with further caps of 10 per cent in the third season, and six per cent in each of the final three years of the deal.

It is believed the NHL is seeking an increase to 9.5 per cent in the final three years of the deal.

The NHL’s request could place the Jan. 1 target date to start the season in jeopardy. Assuming teams would need two-week training camps, an agreement would need to be reached by the end of this month or in early December.

Nothing formal has been presented by either side. Such details as the schedule, division formats and COVID protocols are still being discussed.

It is believed the league is now looking at a 60-game season. The players would like to play as many games as possible.